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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]    
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold There was no expected credit related impairment recognized on investment securities during the twelve months ended December 31, 2021 and 2020. Prior to 2020, investment securities were evaluated for other-than-temporary impairment.  
Held-to-maturity Securities
Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:
 20212020
 Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$2,409 $101 $— $2,510 $2,766 $138 $— $2,904 
Mortgage-Backed Securities – Commercial91,439 305 (1,939)89,805 36,799 1,441 — 38,240 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential387,848 2,800 (5,758)384,890 277,351 5,389 (10)282,730 
Mortgage-Backed Securities – Commercial7,309 148 — 7,457 9,737 344 — 10,081 
Other Government-Sponsored Enterprises21,904 — (625)21,279 — — — — 
Obligations of States and Political Subdivisions29,402 414 (103)29,713 34,391 705 — 35,096 
Debt Securities Issued by Foreign Governments1,000 — (3)997 800 — — 800 
Total Securities Held to Maturity$541,311 $3,768 $(8,428)$536,651 $361,844 $8,017 $(10)$369,851 
 
Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale
Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:
 20212020
 Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$5,242 $420 $— $5,662 $6,492 $738 $— $7,230 
Mortgage-Backed Securities – Commercial365,024 1,725 (4,459)362,290 182,823 8,357 — 191,180 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential632,687 6,308 (9,021)629,974 481,109 14,924 — 496,033 
Other Government-Sponsored Enterprises1,000 — (19)981 100,996 — 100,998 
Obligations of States and Political Subdivisions9,538 89 (103)9,524 11,154 243 — 11,397 
Corporate Securities32,088 973 (112)32,949 22,941 1,444 — 24,385 
Total Securities Available for Sale$1,045,579 $9,515 $(13,714)$1,041,380 $805,515 $25,708 $— $831,223 
The amortized cost and estimated fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below:
Amortized
Cost
Estimated
Fair Value
 (dollars in thousands)
Due within 1 year$— $— 
Due after 1 but within 5 years13,874 14,334 
Due after 5 but within 10 years28,752 29,120 
Due after 10 years— — 
42,626 43,454 
Mortgage-Backed Securities (a)1,002,953 997,926 
Total Debt Securities$1,045,579 $1,041,380 
(a)Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
 
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million  
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
Amortized
Cost
Estimated
Fair Value
 (dollars in thousands)
Due within 1 year$908 $918 
Due after 1 but within 5 years7,610 7,653 
Due after 5 but within 10 years43,226 42,846 
Due after 10 years562 572 
52,306 51,989 
Mortgage-Backed Securities (a)489,005 484,662 
Total Debt Securities$541,311 $536,651 
(a)Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table presents the gross unrealized losses and estimated fair values at December 31, 2021 for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:
 Less Than 12 Months12 Months or MoreTotal
 Estimated
Fair Value
Gross
Unrealized
Losses
Estimated
Fair Value
Gross
Unrealized
Losses
Estimated
Fair Value
Gross
Unrealized
Losses
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Commercial$320,414 $(6,398)$— $— $320,414 $(6,398)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential658,965 (14,779)— — 658,965 (14,779)
Other Government-Sponsored Enterprises22,261 (644)— — 22,261 (644)
Obligations of States and Political Subdivisions11,213 (206)— — 11,213 (206)
Debt Securities Issued by Foreign Governments997 (3)— — 997 (3)
Corporate Securities19,013 (112)— — 19,013 (112)
Total Securities$1,032,863 $(22,142)$— $— $1,032,863 $(22,142)
The following table presents the gross unrealized losses and estimated fair value at December 31, 2020 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position: 
 Less Than 12 Months 12 Months or More Total
 Estimated
Fair Value
Gross
Unrealized
Losses
 Estimated
Fair Value
Gross
Unrealized
Losses
 Estimated
Fair Value
Gross
Unrealized
Losses
 (dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential$3,755 $(10)$— $— $3,755 $(10)
Total Securities$3,755 $(10)$— $— $3,755 $(10)